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HATHAWAY SIGNS LETTER OF INTENT TO SELL SOFTWARE SUBSIDIARY

 WESTMINSTER, Colo., Aug. 5 /PRNewswire/ -- Hathaway Corp. (NASDAQ: HATH) announced today it has signed a letter of intent to sell its software accounting subsidiary, Global Software Inc. to the senior management of Global for an undisclosed amount.
 Based in Raleigh, N.C., Global Software develops and markets accounting software for IBM computers, focusing on the midrange and mainframe markets. Global also provides programming and consulting services. Its client base includes approximately 700 customers and 1,250 product installations worldwide. Fiscal 1992 sales for Global were $26.4 million or about 38 percent of Hathaway's total revenues.
 The sale is subject to approval by Hathaway shareowners, Hathaway obtaining a fairness opinion supporting the purchase price and the buyers securing financing.
 "While Global has provided excellent cash flow to Hathaway since we originally bought it in 1985, the board of directors has determined that increasing shareowner value can best be enhanced by concentrating on our core business in the electric power industry," explained Gene Prince, chief executive officer of Hathaway. "We hope to close the sale by the end of this calendar year."
 Based in Westminster, Hathaway is the world's leading manufacturer of electric power fault recording equipment.
 -0- 8/5/93
 /CONTACT: Wayne Brown of Carl Thompson Associates Inc., 303-494-5472, for Hathaway/
 (HATH)


CO: Hathaway Corp.; Global Software Inc. ST: Colorado, North Carolina IN: CPR SU:

MC -- DV005 -- 9826 08/05/93 11:11 EDT
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Publication:PR Newswire
Date:Aug 5, 1993
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